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Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a

Investors Sharpen Fair Pay Focus - A Church of England Pensions Board and Brunel-led framework is due next month, speakers confirmed during ESG Investor’s 2024 Stewardship Summit. Investors’ efforts to address fair pay during this year’s annual general meetings (AGM) will be bolstered by the Fair Reward Framework (FRF), which is set to be released imminently after a year in the making. The FRF was developed by the Church of England Pensions Board (CoEPB) and Brunel Pension Partnership to respond to issues surrounding corporate pay and address tensions between companies, shareholders and wider stakeholders about who and what contributes to creating value within a business. Initially due to be released in Q1 for its pilot year, the framework will now be unveiled in “the next month or so”, according to Stephen Barrie, Deputy Chief Responsible Investment Officer at the CoEPB. The FRF is expected to provide a dashboard on different indicators of fair reward, robust pay setting processes, and engagement with stakeholders. This will enable the assessment of individual companies and drive better practice among them. “The executive pay system is broken – we’re on record saying that,” said Barrie, speaking at ESG Investor’s Stewardship Summit 2024. “You can have an advisory vote against a pay balance that gets up to 70% of investors voting against the award, but it is still paid. “The remuneration committees’ decision-making processes are incredibly convoluted. It’s a systemic problem across the UK and in other parts of the world.” The FRF’s ultimate objective is to improve the way companies contribute to addressing inequalities, securing investee companies’ social licences and improving sustainability through their corporate pay practices. Fixing the system The idea behind the framework was born out of a summit hosted by the CoEPB in 2022, which led to the conclusion that the global executive pay system was “broken” and undermined trust in large-scale business operations, hindering prospects for economic growth. Eleven UK asset owners contributed to its creation, including the Local Pensions Partnership Investments, Nest, Pension Protection Fund, Railpen, Scottish Widows, and Universities Superannuation Scheme. The asset owner group partnered with the High Pay Centre and Minerva Analytics to catalyse the FRF’s pilot year, which in 2024 will focus on assessing FTSE100 companies before being expanded. High Pay Centre research previously found that CEO pay at FTSE 100 companies had increased by from £3.38 million (US$4.31 million) in 2021 to £3.91 million in 2022, representing a 16% increase. This means median CEO pay within those businesses is now 118 times higher than for a median full-time worker. “The FRF is going to create clear, comparable metrics, with evidence of the history of rewards practices that will be accessible to investors and publicly,” said Barrie. “It also examines minimum payments a